Afternoon Coffee: Riskmethods Receives €13.5 million in Series B, Lighthizer Inches Closer to Trade Rep Position

Riskmethods announced Wednesday it had completed its Series B financing round with an investment of €13.5 million, according to a press release. The company will use the funding to help further its international expansion, as well as investing in further product and solutions development and expanding its workforce.

"With this new injection of capital, riskmethods is taking a major step towards achieving our goal of global market leadership in the segment of supply chain risk management," said Rolf Zimmer, CEO and co-founder of riskmethods.

Lighthizer Clears Senate Committee

The Senate finance committee voted 26–0 Tuesday to advance Robert Lighthizer one step closer to the position of U.S. trade representative, the Wall Street Journal reports. Pending a separate but related matter, Lighthizer could be confirmed by the full Senate in coming days.

Uber’s Flying Cars

Uber announced Wednesday it had partnered with the cities of Dallas and Dubai launch a network of on-demand flying cars, Supply Chain 24/7 reports. Based on plans the ridesharing company unveiled at its Uber Elevate conference, the project is on track to debut in 2020, when Dubai hosts the World’s Fair.

Oil Prices

And finally, a commodities update: U.S. government data revealed that crude supplies fell for a third straight week, pushing oil prices higher Wednesday. According to MarketWatch, West Texas Intermediate crude tacked on 47 cents, or 1%, to $50.03 a barrel on the New York Mercantile Exchange Wednesday.